{"id":20463,"date":"2025-04-03T16:31:51","date_gmt":"2025-04-03T16:31:51","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20463"},"modified":"2025-04-03T16:31:51","modified_gmt":"2025-04-03T16:31:51","slug":"bitcoin-nears-80k-but-turning-point-in-sight-suggests-analyst","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20463","title":{"rendered":"Bitcoin Nears $80K but &#8216;Turning Point&#8217; in Sight, Suggests Analyst"},"content":{"rendered":"<div>\n<p>Down more than 5% since President Trump&#8217;s tariff announcement on Wednesday evening sent markets plunging, bitcoin (BTC) once again is disappointing bulls who have touted its store-of-value properties or potential as a non-correlated safe haven to risk assets like stocks.<\/p>\n<p>Or not.<\/p>\n<p>&#8220;This moment feels like a turning point,&#8221; said Joel Kruger, LMAX Group market strategist. &#8220;We see market participants increasingly drawn to [BTC&#8217;s] appeal as a store-of-value asset and a compelling diversification tool amid the uncertainty.&#8221;<\/p>\n<p>Kruger noted that while the Nasdaq and S&amp;P 500 have each tumbled to new 2025 lows, bitcoin for the moment is holding well above its year-to-date bottom of $75,000 \u2014 what technicians like to call &#8220;higher lows.&#8221;<\/p>\n<p>But Javier Rodriguez Alarcon, chief commercial officer at crypto exchange XBTO, believes otherwise.<\/p>\n<p>\u201cDespite talk that bitcoin could act as a hedge against dollar-centric volatility, in practice we\u2019re still seeing a strong correlation between digital assets and broader risk markets in moments of uncertainty,\u201d the ex-Goldman Sachs executive said in an email.<\/p>\n<h5>Gold still the preferred safe haven at JPMorgan<\/h5>\n<p>&#8220;Bitcoin&#8217;s volatility and correlation with equities raises questions over its &#8216;digital gold&#8217; narrative,&#8221; said Nikolaos Panigirtzoglou and team at JPMorgan yesterday. &#8220;We see gold continuing to rise as the major beneficiary of the debasement trade,&#8221; they added.<\/p>\n<p>Even with bitcoin&#8217;s recent pullback, the price is still above the bank&#8217;s estimated average cost of production of $62,000, a metric which has acted as a lower boundary in the past, wrote Panigirtzoglou.<\/p>\n<p>Gold today is lower by just 1.25% to $3,126 per ounce and within close sight of its record high of around $3,200.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Down more than 5% since President Trump&#8217;s tariff announcement on Wednesday evening sent markets plunging, bitcoin (BTC) once again is disappointing bulls who have touted its store-of-value properties or potential as a non-correlated safe haven to risk assets like stocks. Or not. &#8220;This moment feels like a turning point,&#8221; said Joel Kruger, LMAX Group market [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-20463","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20463"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20463\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}